Current Mortgage Refinancing Rates
Refinance Your Mortgage and Save
Depending on the terms of your current loan and how long you plan to stay in your home, refinancing could be the best option for you. Whether you have an existing loan with us or one with another lender, we have fixed- and adjustable-rate options that could save you money.
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Get a Better Loan
Refinance to a lower rate or pay off your loan faster with a shorter term.
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Take Cash Out
Use the equity in your home to pay for home improvements, a down payment on a second home or college tuition.
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Convert to a Fixed Rate
Refinance to lock in a new rate and ensure a stable payment for the life of your loan.
Refinance Rate OptionsFootnote 1
From fixed and adjustable rates that allow you to borrow up to 100% of your home's value,Footnote 2 we have a mortgage to fit your needs. View our rates and crunch your numbers to see what works best with your budget.
VA Loan RatesFootnote 3
Unlock up to 100% of your home's equity with a cash-out refinance or convert from a conventional mortgage. Available exclusively to eligible servicemembers, Veterans and surviving spouses, VA Loans are backed by the Department of Veterans Affairs.Footnote 2
| Term | Interest Rates As Low As | Discount Points | APR As Low As |
|---|---|---|---|
| 15 Year | 5.125% | 0.250 | 5.773% |
| 30 Year | 5.625% | 0.500 | 6.045% |
Rates as of Apr 01, 2025 ET. |
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| Rates subject to change. Payment ExampleFootnote 4 | |||
VA Streamline (IRRRL)Footnote 3
Exclusively for those with VA home loans, VA interest rate reduction refinance loans (IRRRLs) are an easy way to refinance your loan to a lower rate and lower your monthly payments with minimal out-of-pocket costs. Call 1-888-842-6328 for more information. Payment ExampleFootnote 5
Conventional Fixed Mortgage RatesFootnote 1
Stable fixed rate and monthly payment for homeowners with at least 95% LTV. Cash-out and limited cash-out options available.Footnote 6
| Term | Interest Rates As Low As | Discount Points | APR As Low As |
|---|---|---|---|
| 15 Year | 5.250% | 0.250 | 5.443% |
| 15 Year Jumbo | 5.500% | 0.250 | 5.694% |
| 30 Year | 6.000% | 0.250 | 6.118% |
| 30 Year Jumbo | 6.250% | 0.250 | 6.370% |
Rates as of Apr 01, 2025 ET. |
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| Rates subject to change. Payment ExampleFootnote 7 15 Year Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, 80% loan-to-value up to the conforming loan limit. 15 Year Jumbo Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, and a loan-to-value ratio up 80%. 30 Year Loan assumption: Advertised rate assumes the limited cash-out refinance of a single-family primary residence, 780 FICO, 75% loan-to-value up to the conforming loan limit. 30 Year Jumbo Loan assumption: Advertised rate assumes the limited cash-out refinance of a single-family primary residence, 720 FICO, and a loan-to-value ratio up to 80%. |
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Homebuyers Choice Loan RatesFootnote 1
A good option allowing homeowners who don’t have much equity in their home to refinance up to 97% of their home's value. Footnote 8
| Term | Interest Rates As Low As | Discount Points | APR As Low As |
|---|---|---|---|
| 30 Year | 6.875% | 0.500 | 7.203% |
| 30 Year Jumbo | 7.250% | 0.500 | 7.586% |
Rates as of Apr 01, 2025 ET. |
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| Rates subject to change. Payment ExampleFootnote 9 Homebuyers Choice Loan 30 Year Loan assumption: Advertised rate assumes the limited cash-out refinance of a single-family primary residence, 720 FICO, 97% loan-to-value up to the conforming loan limit. Homebuyers Choice Loan 30 Year Jumbo Loan assumption: Advertised rate assumes the limited cash-out refinance of a single-family primary residence, 720 FICO, and a loan-to value ratio up to 97%. |
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Military Choice Loan RatesFootnote 1
An attractive option to refinance up to 97% of your home’s value for eligible servicemembers, reservists and Veterans who may have exhausted their VA eligibility. Footnote 8
| Term | Interest Rates As Low As | Discount Points | APR As Low As |
|---|---|---|---|
| 30 Year | 6.750% | 0.500 | 7.076% |
| 30 Year Jumbo | 7.125% | 0.500 | 7.458% |
Rates as of Apr 01, 2025 ET. |
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| Rates subject to change. Payment ExampleFootnote 10 Military Choice Loan 30 Year Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, 97% loan-to-value up to the conforming loan limit. Military Choice Loan 30 Year Jumbo Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, and a loan-to-value ratio up to 97%. |
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Adjustable-Rate Mortgage LoansFootnote 1 Footnote 11
Take advantage of a low rate during the initial fixed-rate term. Cash-out and limited cash-out options available up to 95% LTV.Footnote 6
| Loan Type | Interest Rates As Low As | Discount Points | APR As Low As | Payment Example |
|---|---|---|---|---|
| 3/5 Conforming ARM | 5.500% | 0.250 | 6.000% | 3/5 Conforming ARM Payment Example |
| 3/5 Jumbo ARM | 5.500% | 0.250 | 6.000% | 3/5 Jumbo ARM Payment Example |
| 5/5 Conforming ARM | 5.750% | 0.250 | 6.028% | 5/5 Conforming ARM Payment Example |
| 5/5 Jumbo ARM | 5.750% | 0.250 | 6.028% | 5/5 Jumbo ARM Payment Example |
Rates as of Apr 01, 2025 ET. |
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| Rates subject to change. ARM Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, 70% loan-to-value up to the conforming loan limit. |
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Mortgage Refinancing Resources
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When to Refinance Your Mortgage?
Refinancing your current home loan could save you money, but how can you tell if it’s the right choice for you? We’ll give you the tools to decide for yourself.
Learn More about When to Refinance Your Mortgage? -
Mortgage Refinance Calculator
Considering refinancing your existing home loan? Use our calculator to see what you could save.
Learn More about Mortgage Refinance Calculator -
5 Facts to Know About a Cash-Out Refinance
If you’re considering refinancing and taking out cash from your mortgage, it’s important that you learn the facts.
Learn More about 5 Facts to Know About a Cash-Out Refinance
Disclosures
Rates displayed are "as low as" and effective 04/01/2025 for purchase and refinance loans and require a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Displayed rates include discount points. Rates are subject to change. Rates vary based on creditworthiness, loan-to-value (LTV), occupancy, property type and loan purpose, and/or other factors. All loans subject to credit approval.
↵Product features subject to approval. Occupancy restriction applies. Subject to funding fee, which may be financed up to the maximum allowed loan amount. Conventional loans: 100% financing available for purchase loans only. VA loans: 100% financing subject to all VA program requirements. Navy Federal has no affiliation with U.S. Department of Veterans Affairs or any other government agency.
↵Rates displayed are "as low as" and effective 04/01/2025 for purchase, refinance loans, and VA IRRRL and require a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Displayed rates include discount points. Rates are subject to change. All VA rules, guidelines, and additional program requirements will apply. All loans subject to approval. Navy Federal has no affiliation with U.S. Department of Veterans Affairs or any other government agency.
↵A VA loan of $300,000 for 30 years at 5.625% interest and 6.045% APR will result in a monthly payment of $1,726. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval.
A VA loan of $300,000 for 15 years at 5.125% interest and 5.773% APR will result in a monthly payment of $2,391. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval.
↵A VA Streamline loan of $300,000 for 15 years at 5.125% interest and 5.773% APR will have a monthly payment of $2,391.
A VA Streamline loan of $300,000 for 30 years at 5.625% interest and 6.045% APR will have a monthly payment of $1,726.
Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restrictions applies. All loans subject to credit approval.
Product features subject to approval. Down payment and loan-to-value (LTV) requirements may vary depending on the occupancy, property type, loan purpose, your creditworthiness, and/or other factors.
↵15 Year: A Fixed refinance loan of $300,000 for 15 years at 5.250% interest and 5.443% APR will have a monthly payment of $2,411. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval. Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, 80% loan-to-value up to the conforming loan limit.
15 Year Jumbo: A Jumbo Fixed refinance loan of $1,000,000 for 15 years at 5.500% interest and 5.694% APR will have a monthly payment of $8,170. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval. Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, and a loan-to-value ratio up to 80%.
30 Year: A fixed-rate refinance loan of $300,000 for 30 years at 6.000% interest and 6.118% APR will have a monthly payment of $1,798. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval. Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 780 FICO, 75% loan-to-value up to the conforming loan limit.
30 Year Jumbo: A Jumbo Fixed refinance loan of $1,000,000 for 30 years at 6.250% interest and 6.370% APR will have a monthly payment of $6,157. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval. Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, and a loan-to-value ratio up to 80%.
↵All Choice loans require a 1.00% origination fee, which may be waived for a 0.25% increase in the interest rate. All Choice loans are subject to a funding fee of 1.75% of the loan amount. This funding fee may be financed up to the maximum allowed loan amount, or the fee may be waived for a 0.375% increase in the interest rate. Purchase loans require no down payment in most states. LTV restrictions apply to refinance and non-primary residence loans. All loans subject to approval. Note: To be eligible for Military Choice, at least one borrower must be Active Duty, reservist, or a Veteran.
A Homebuyers Choice loan of $300,000 for 30 years at 6.875% interest and 7.203% APR will have a monthly payment of $1,970. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval. Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, 97% loan-to-value up to the conforming loan amount limit.
A Jumbo Homebuyers Choice loan of $1,000,000 for 30 years at 7.250% interest and 7.586% APR will have a monthly payment of $6,821. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval. Jumbo loans: Loan amounts greater than $806,500 in most states. The jumbo rates quoted above are for loan amounts above $806,500 up to $1,000,000. Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, and a loan-to-value ratio up to 97%.
↵Military Choice 30 Year: A Military Choice loan of $300,000 for 30 years at 6.750% interest and 7.076% APR will have a monthly payment of $1,945. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval. Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, 97% loan-to-value up to the conforming loan amount limit.
A Jumbo Military Choice loan of $1,000,000 for 30 years at 7.125% interest and 7.458% APR will have a monthly payment of $6,737. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Includes a 1.00% loan origination fee, which may be waived for a 0.25% increase in the interest rate. Discount points are included. Occupancy restriction applies. All loans subject to credit approval. Jumbo loans: Loan amount greater than $806,500 in most states. The jumbo rates quoted above are for loan amount above $806,500 up to $1,000,000. Loan assumption: Advertised rate assumes a limited cash-out refinance of a single-family primary residence, 720 FICO, and a loan-to-value ratio up to 97%.
↵Adjustable Rate Mortgages are variable, and your Annual Percentage Rate (APR) may increase after the original fixed-rate period. The First Adjusted Payments displayed are based on the current Constant Maturity Treasury (CMT) index, plus the margin (fully indexed rate) as of the stated effective date rounded to nearest 1/8th of one percent. All loans subject to credit approval.
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